PACCAR
PACCAR is a global leader in the design, manufacture, and support of premium trucks under the Kenworth, Peterbilt, and DAF brands, and provides financial services, advanced powertrains, and truck parts distribution worldwide.
Overview of PACCAR
PACCAR is a global technology leader specializing in the design, manufacture, and customer support of premium light-, medium-, and heavy-duty trucks. These trucks are marketed under well-known nameplates such as Kenworth, Peterbilt, and DAF. PACCAR is also involved in the design and manufacture of advanced powertrains, financial services, and information technology, as well as the distribution of truck parts.
Products and Technology
PACCAR offers a range of light-, medium-, and heavy-duty trucks under premium brands Kenworth, Peterbilt, and DAF. Additionally, PACCAR designs and manufactures advanced powertrains, including innovative technologies aimed at reducing emissions and improving fuel efficiency. The company operates state-of-the-art technical centers in Europe and North America for product development and validation. PACCAR showcased several advanced products and technologies at the Consumer Electronics Show in Las Vegas in January 2024.
Financial and Leasing Services
PACCAR Financial Services provides comprehensive finance, lease, and insurance services to dealers and customers across 24 countries, managing a portfolio of over 228,000 trucks and trailers with total assets of $21.15 billion. PACCAR Leasing operates a major truck leasing network in North America, maintaining a fleet of 38,000 vehicles. In the first quarter of 2024, PACCAR Financial Services issued $950 million in medium-term notes and achieved significant financial milestones, including record quarterly revenues of $8.74 billion.
Global Dealer and Distribution Network
PACCAR operates an extensive global dealer network consisting of 2,200 locations. PACCAR Parts supports this network with 19 global parts distribution centers, offering aftermarket solutions for Kenworth, Peterbilt, and DAF vehicles. The company's private label brand, TRP, provides a selection of more than 157,000 parts for various truck, trailer, and bus models. PACCAR is currently constructing a new 240,000 square-foot parts distribution center in Massbach, Germany, set to open in 2024.
Corporate Social Responsibility and Investments
Through the PACCAR Foundation, PACCAR has made over $200 million in grants globally, supporting education, social services, and the arts. The company continues to invest significantly in capital and R&D projects, with $164.3 million allocated to capital projects and $105.5 million to research and development in the first quarter of 2024. Furthermore, PACCAR's joint venture for advanced battery cell manufacturing is expected to start construction of a 21-gigawatt hour factory in Marshall County, Mississippi by mid-2024.